"No time soon." Jerome Powell made clear the Fed won't be lifting rates for a long while, and played down any concern over rising prices. The central bank will need to see inflation persistently above the 2% target before taking action, the chairman said. The debt burden isn't at a high level from a historical perspective, but isn't on a sustainable path, he added. As for when officials may start to reduce the Fed's bond purchases, which has garnered intense interest of late: "we'll let the world know."